Electric Cars as Barack's NEW Strategy for Transportation fuels
Saturday, 10 January 2009
Plug-in hybrids (and electric cars) are an essential climate strategy. The U.S. has just enacted the Energy Improvement and Extension Act of 2008 as part of the bailout of the U.S. financial system. The law provides tax credits for purchases of plug-in hybrid vehicles until less than a year after the first 250,000 are sold, worth $2,500 plus $417 for each kilowatt-hour of battery capacity over 4 kilowatt-hours, up to $7,500 for cars under 10,000 pounds (4536 kg), or more for larger vehicles.
BYD Auto is the Chinese company that last fall launched the very first mass-production plug-in hybrid in the world. It will display both its F3DM plug-in hybrid sedan, and a new E6 electric crossover vehicle. Executives will describe its lithium iron phosphate cells, and the Dual Mode plug-in hybrid system. BYD might be dismissed as just another Chinese car company (there are several dozen), except that famed investor Warren Buffet acquired a 10-percent stake in its parent company last September. The car company is a subsidiary of BYD Company Ltd., the world's second largest producer of rechargeable batteries—unlike GM, which has to buy its cells from other companies.